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PeopleSoft Purchases All Remaining Shares of J.D. Edwards

PLEASANTON, Calif.--(BUSINESS WIRE)--PeopleSoft, Inc. (Nasdaq:PSFT) today announced that, following its July 18 acquisition of J.D. Edwards & Company, it has purchased all remaining shares not tendered in PeopleSoft's exchange offer. PeopleSoft initially purchased approximately 105 million of J.D. Edwards outstanding shares through PeopleSoft's exchange offer for J.D. Edwards common stock on July 17, 2003. The consideration to be paid for each remaining J.D. Edwards share will be $7.05 in cash plus 0.43 of a share of PeopleSoft common stock. Any fractional shares will be paid in cash.

"Over the last month we have moved rapidly to integrate the two companies," said PeopleSoft President and CEO Craig Conway. "During that time, customer response has been outstanding and employees have been energized. I am more confident than ever that this combination will result in enhanced value for shareholders."

PeopleSoft (Nasdaq:PSFT) provides enterprise application software with 11,900 customers in more than 25 industries and 150 countries. For more information, visit us at www.peoplesoft.com.